Greece's prime minister says he will consider holding a referendum on austerity measures essential for the country to continue drawing on funds from an international bailout.

"I am prepared, for the great changes that we are putting forward, to use even the institution of a referendum, for the broadest possible consent or opinion," George Papandreou told his ministers during a marathon informal Cabinet meeting Monday that ran for more than seven hours.

Papandreou has been trying to quell dissent within his own governing Socialists as well as widespread anger among Greeks furious that a year's worth of the measures have failed to produce the expected results. Frustration increased as it became apparent that the government has to impose yet more spending cuts and tax hikes.

In statements delivered during the meeting and released by his office, Papandreou said he had called on the Interior Minister to set up the necessary legislative conditions that would allow such a move "when it is needed."

The new plans _ remedial measures this year and a package through 2015 _ are required if Greece is to continue receiving money from last year's euro110 billion ($160.56 billion) package of rescue loans from the International Monetary Fund and other countries that use the euro. The government is also pushing through an ambitious euro50 billion privatization drive.

Greece looks like it will also need more money to cover a funding gap next year and prevent the country from defaulting on its debts.

Last week, debt monitors from the EU and IMF said Greece should receive the next euro12 billion installment of the bailout in early July _ as long as additional austerity and privatization measures are deemed sufficient. A final decision is to be taken by the IMF board and the eurogroup in meetings later this month.

But Papandreou, whose PASOK party has a majority of six seats in the 300-member Parliament, faced a potential rebellion from within the Socialists.

Last week, 16 PASOK deputies signed a letter demanding an extensive debate on the measures before they are ratified, with one of the signatories threatening during an interview on state television not to vote for the reforms otherwise.

A government official with knowledge of the discussions during Monday's meeting said the government would have to listen to the dissenting views. However, he said Greece's European partners want to see "steady action at a fast pace."

He spoke on condition of anonymity to reveal details of Monday's discussions.